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Expedite taxation deal, Pranab urges the Swiss

Finance minister Pranab Mukherjee today urged Switzerland to immediately ratify the Double Taxation Avoidance Agreement (DTAA) that was signed between the two countries last August.

business Updated: Apr 07, 2011 20:14 IST

Finance minister Pranab Mukherjee on Thursday urged Switzerland to immediately ratify the Double Taxation Avoidance Agreement (DTAA) that was signed between the two countries last August.

"The ratification of the agreement would put the institutional framework in place which, in turn, would result in sharing of taxation related information between the two countries," Mukherjee said after meeting Johann Schneider Ammann, head of Switzerland's Federal Department of Economic Affairs, in Newc Delhi.

Mukherjee urged the Swiss minister to expedite the process of ratifying the deal.

During the meeting, Ammann assured that the ratification of the DTAA by the Swiss parliament would be expedited, the finance ministry said in a statement.

The Swiss minister, who is on a four day official visit to New Delhi, urged India to open up the insurance and banking sectors for foreign investments.